How it works, Prop 13, assessments, exemptions
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Talk to a Specialist →San Diego County property tax rate: ~1.20% (varies by location but this is baseline).
Example: $1,000,000 home = ~$12,500/year property tax.
But here's the catch: That 1.20% applies to your "assessed value," NOT market value. This is where Prop 13 comes in.
California's Prop 13 freezes your property tax assessment at time of purchase. It only increases 2% per year, regardless of market appreciation.
If you BUY a home, assessment resets to market value: You lose the 30+ years of frozen assessments the previous owner had.
Example: Previous owner bought 1990 at $300K, lived there 30 years. Assessment frozen at ~$450K (with 2% annual increases). You buy for $1.2M in 2024. Assessment resets to $1.2M. Your tax jumps from $5,600/yr (what previous owner paid) to $15,000/yr (what you pay).
This is why people stay in California homes forever — moving resets your taxes.
We connect buyers with agents who know this market from the inside — real cost math, honest comparisons, and what's actually happening right now. Every agent is personally vetted by the Nova55Living founder. No scripts, no pressure.
Prop 19 allows you to transfer your old assessment basis to a new home, even if more expensive. This partially avoids the reassessment jump.
Example: You sell Bay Area home (assessment $400K, market $2M). Buy San Diego home ($1M). Prop 19 transfers $400K basis to new home. Assessment = $400K, tax = $5,000/yr (instead of $12,500/yr).
This is why Prop 19 is so valuable for California downsizers.
If you buy and stay 20+ years, Prop 13 saves you hundreds of thousands in taxes. Your assessment grows only 2%/year while market grows 3–5%/year.
If you buy and sell in 5–7 years, reassessment means you overpaid for the home (you absorbed tax-resetting risk).
Plan to stay. Don't buy with exit strategy in mind.
Connect with a specialist who knows this market from the inside — real cost math, honest community comparisons, and what's actually happening right now. Every agent is personally vetted by the Nova55Living founder.
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